The Stock Exchange of Thailand (SET) has vowed to develop the digital capital market to complement the traditional capital market and expand opportunities for businesses of all sizes to raise funds, as the bourse aims to become a regional stock exchange.
Approaching its 50th year of operations, the SET is committed to becoming a platform that supports all stakeholders, said president Pakorn Peetathawatchai.
Under the “Make it Work for Every Future” concept, the bourse aims to create products and services that meet the needs of all investors, promoting long-term sustainable growth for businesses and driving the economy, while ensuring environmental balance and societal stability, said Mr Pakorn.
“Thailand aims to become a regional financial hub, open to foreign companies to raise funds in various forms,” he said.
“The SET also allows Thais to invest abroad through depositary receipts and exchange-traded funds.”
There are more than 30 foreign companies, mostly Japanese subsidiaries, that raise funds on the Thai stock market.
“In the future, more foreign companies will raise funds on the Thai stock market as part of their long-term strategies,” said Mr Pakorn.
The Thai index has fallen significantly this year, but he said the situation is gradually improving, backed by the recovery of the domestic and global economies.
The fiscal 2024 budget is now being distributed, which should stimulate economic growth, said Mr Pakorn.
“This year foreign investors have reduced their sales of Thai stocks and capital has begun to flow in after investment factors became clearer, while the US Federal Reserve is preparing to cut interest rates,” he said.
The SET outlined five strategic goals, with the first becoming a regional exchange and international hub, supporting fundraising for both local and multinational companies, while enhancing access for local investors to invest globally.
Second, the Thai bourse wants to cater to businesses of all sizes, including foreign firms with operations in Thailand, new economy enterprises, small and medium-sized enterprises and startups.
The SET plans to transition to digital to offer an alternative for next-generation investors, while strengthening the traditional market framework, according to the vision.
In addition, the bourse wants to enhance operational efficiency and regulatory oversight using artificial intelligence technology to improve trading and supervision of listed companies, offering services tailored to investor preferences.
Finally, sustainability trends and regulatory challenges remain a focus to address the climate crisis, biodiversity and human rights, said Mr Pakorn.
With more than 850 listed companies and a market capitalisation of 17.4 trillion baht (US$480 billion), investor numbers have continued to rise, he said.
